Excerpt from: Financial Spread Betting Strategies
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| August 16, 2007 | | Yen seeing an upsurge on the spot forex market | The Japanese yen is doing quite well on the spot forex market right now as the carry trade unwinds and high yielders fall to the currency. Financial spread betting strategy involving the Japanese yen should favour for now against most major currencies, including the U.S. dollar. This information from Reuters might help you with placing your spread bets:
The selling in dollar/yen and other crosses exploded, as
stop losses were triggered, options barriers smashed and
capitulation selling taking hold. "The markets are in panic at the moment, a sympton of the
overall conditions," said Derek Halpenny, currency economist at
BTM-UFJ. | | |
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